Increased activity in the Permian Basin and Eagle Ford Shale helped push the U.S. rig count nine units higher to 512 during the week ended Friday (Sept. 17), according to the latest data from Baker Hughes Co. (BKR). A 10-rig increase in oil-directed drilling offset a one-rig decline in natural gas-directed rigs in the United…
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IEA Sees Continued Oil Market Tightening as Inventories Well Below Five-Year Average
The International Energy Agency (IEA) expects continued tightening of the global oil market this month, driven by factors on both the supply and demand sides of the equation. In its latest monthly Oil Market Report, the global energy watchdog said it now expects global oil demand to rise by 5.2 million b/d this year, and…
Golden Pass LNG Said ‘on Schedule’ for 2024 Start-Up
Construction on the Golden Pass liquefied natural gas (LNG) export project in Texas is progressing, with the facility on track to come online in 2024, according to ExxonMobil. ExxonMobil Qatar President Dominic Genetti said recently there are currently about 4,000 people at the worksite for the three-train, 16 million metric tons/year (mmty) facility. “I think…
Listen Now: NGI’s Hub & Flow Spotlights Hydrogen’s Promise in Latin America
Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI Senior Editor Christopher Lenton is joined by the International Energy Agency’s (IEA) Mariano Berkenwald to discuss the hydrogen opportunity in Latin America. Having recently published a report with the IEA about how low-carbon hydrogen can play a big…
Delta Variant Pressuring Oil Demand, Possibly Hampering U.S. Natural Gas
The Covid-19 Delta variant could dampen global oil demand and threaten U.S. natural gas activity if the rapid spread of the virus continues into the fall. In the United States, overall case totals and hospitalizations remain lower than the highs reached last winter before vaccine campaigns were widespread. However, reported infections are on the rise…
United States Led Global LNG Exports Higher Through May, IEA Says
Natural gas consumption continued to increase across the world in May and exports were up to meet demand, according to the International Energy Agency (IEA). IEA in its latest monthly report said gross natural gas consumption increased 7.4% year/year to 125.9 million cubic meters (MMcm) in developed nations, defined as the Organization for Economic Cooperation…
Higher Natural Gas Prices, Winter Storm Give Oomph to U.S. Coal Generation, Says IEA
The world’s thirst for electricity this year has led to an uptick in coal consumption and cut into U.S. natural gas consumption, according to the International Energy Agency (IEA). The global energy watchdog earlier this month said the world is getting back to business following the depths of the pandemic, with energy demand rising quickly.…
U.S. Coal Generation Gains Ground from Uri and Higher Natural Gas Prices, Says IEA
The world’s thirst for electricity this year has led to an uptick in coal consumption and cut into U.S. natural gas consumption, according to the International Energy Agency (IEA). The global energy watchdog on Thursday said the world is getting back to business following the depths of the pandemic, with energy demand rising quickly. Coal…
Global Natural Gas Demand Rebounding, with U.S. LNG Capacity Growing, Says IEA
The world’s thirst for natural gas is set to rebound sharply this year and continue rising into 2024, in part as U.S. export capacity grows, the International Energy Agency (IEA) said Monday. Global Demand is forecast to rise by 3.6% in 2021 before easing to an annual growth rate of around 1.7% from 2022-2024, researchers…
BP Looking to Hydrogen Expansion to ‘Reinvent’ Natural Gas
Hydrogen has the power to “reinvent” natural gas, and BP plc is looking to take the lead in the transition, a top executive said earlier this month. BP’s energy economics team and the International Energy Agency (IEA) are forecasting a big role for hydrogen in the transition from fossil fuels to alternative energies. BP Executive…